The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-05-20
CONDITION OF THE MARKETS
The "Bears" Make a Desperate Attempt
to Force a Decline in Wheat Prices,
But the "BulIs" Prove Too Strong and the
Effort Is Abandoned-Large Transactions
in Corn Provisions Slightly Higher.
MONEY. BONDS AND STOCKS.

A Marked Increase of Activity, Accompanied
by a Decline in Prices.
NEW YORK. May 19-Money call
EASY at 4d6 per cent. the last loan being made
at Al. closing at per cent
Pine mercantile paper. 505a per cent
Sterling exchange was dull and unsettled at
a. s55 for sixty-day bills and 81 S6s for demand.
The total sales of stocks to-day wore 350,052
shares including the following Canada
Southern, 5.775; Delaware, Lackawanna e.
Western. 5000; Delaware g. Hudson, 1882;
Erie, 81 1856: Fort Worth 81 Denver, $500;
Kansas & Texas, 1920; Lake Shore, 1895; Louis
Vile & Nashville. 6.345: Missouri Pacific. H.
9l5: Northwestern, 1885, New York Central
$3.50; Northern Pacific. 1880; Peoria, Decatur
& Evansville. 3.7Oo; Reading. $500; St. Paul,
"a $50; Texas Pacific 1869; Union Pacific, IT,
1885, Western Union. 50. 195.
The sentiment on the street to-day was de-
cidedly adverse to any further advance in
stocks, and while there no news of char
scter TO affect the market unfavorably, free
realizations and sales for the short acco unit,
aided by vigorous hammering by the ''be ars"
wherever a soft spot was discovered. brought
about a moderate reaction throughout the entire
list London was moderate buyer in the
early dealings, bur the operations by that inter
sst were of no effect upon the market The
trading was extremely active for the first thirty
minutes. and nearly 100,0 900 shares changed
hands in that time, but later the transactions
became Quieter and generally heavy tone
impaired to the dealings. Western Union
the center of attraction, and displayed consd-
cradle strength early in the day, although
there were no new developments in the
stock until about p. NJ. when the statement
issued that the company would have no
part in the Baltimore 81 Ohio deal, but that the
opposition TO the company would be consoli-
AaN I'D IL fhox@ lu1 h. TO-
Gould stocks seemed to have lost their interest.
The grancers, with the exception of St Paul.
were quiet, bnt all were well held except Rock
Island. The Oregon stocks, especially in the
early part of the day. were cons pieuousy strong,
though they yielded somewhat later. Consider
able attention was attracted by a drop in Nor
folk 81 Western preferred, which attributed
TO manipulation by insiders. The opening
moderately firm, most stocks showing slight ad-
vances over last evenings closing prices
drive was made at the list i'm m ediately, and
tations were depressed fractions, ranging up to
Z per cent. in the first half hour the decline be-
ing accompanied by extreme activity. A rally
occurred after that time, in which Western
Union prominent. but considerable irregu-
larity developed and transactions be-
rame smaller in volume. The tone, however.
was generally heavy until after IL o'clock,
when a reaction occurred, which, however, was
measured by small fractions. In the last hour
the drain was renewed with force, and was only
checked at rhe close, which was fairly active but
heavy. the lowest figures The DAYS
sales were 350052 shares-Western Union. So
l90; Rev bngland, a. oO; ST. Paul, FAX sou;
Union Pacific. IL 926 Everything on the active
list except Northern Pacific preferred, is lower.
Jersey Central and Union Pacific are down II:
Texas Pacific, II; St. Paul. 1; Fort Worth 81
Denver. 2
Railroad bonds were moderately active; sales,
So. 2l4.O00; Atlantic s. Pacific incomes
tributed $27l, 000 West Shore tours. 1854, 600,
and Erie seconds. 1927, 000 The market was
generally heavy in the early part of the day,
and material declines were made in many
Issues, but toward the close a frmer tone pre-
vailed, and many of the early losses were neu-
tralized Closing prices were irregular.
Government bonds dull and steady.
State bonds dull and steady. Closing
quotations